Chainspace

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Created using Figma

Chainspace ICO is a distributed infrastructure called distributed accounting that supports user-defined smart contracts and performs transactions that the user provides with objects. Accurate implementation of smart contract transactions can be verified by everyone. This system can be extended by using state sharing and transaction execution, and S-BAC, a distributed commitment protocol to ensure consistency.

About Chainspace

Chainspace is a decentralized infrastructure, known as a distributed ledger, that supports user defined smart contracts and executes user-supplied transactions on their objects. The correct execution of smart contract transactions is verifiable by all. The system is scalable, by sharding state and the execution of transactions, and using S-BAC, a distributed commit protocol, to guarantee consistency. Chainspace is secure against subsets of nodes trying to compromise its integrity or availability properties through Byzantine Fault Tolerance (BFT), and extremely highauditability, non-repudiation and ‘blockchain’ techniques. Even when BFT fails, auditing mechanisms are in place to trace malicious participants. We present the design, rationale, and details of Chainspace; we argue through evaluating an implementationof the system about its scaling and other features; we illustrate a number of privacy-friendly smart contracts for smart metering,polling and banking and measure their performance.

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